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US Scrap Gold prices decline despite weak Dollar

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NEW YORK (Scrap Register): United States gold scrap prices declined on the Scrap Register Price Index as on Friday, tracking the weakness in gold futures prices at New York Mercantile Exchange despite  benchmark dollar index weakened, offering some support to prices for the precious metal.

The major gold scrap commodities prices including 9ct hallmarked gold scrap, 14ct hallmarked gold scrap, 18ct hallmarked gold scrap, 22ct hallmarked gold scrap, 9ct hallmarked gold scrap, 14ct hallmarked gold scrap, 18ct hallmarked gold scrap and 22ct hallmarked gold scrap on the Scrap Register Price Index showed a down trend on Friday.

The 9ct hallmarked gold scrap, 14ct hallmarked gold scrap, 18ct hallmarked gold scrap and 22ct hallmarked gold scrap prices dropped to 481.732 an ounce, 751.502 an ounce, 963.465 an ounce and 1176.711 an ounce respectively.

The 9ct non-hallmarked gold scrap, 14ct non-hallmarked gold scrap, 18ct non-hallmarked gold scrap and 22ct non-hallmarked gold scrap prices declined to 455.659 an ounce, 710.828 an ounce, 911.318 an ounce and 1113.023 an ounce respectively.

The most active June gold contract on the COMEX division of the New York Mercantile Exchange fell by $1.60 to $1,320.70 an ounce on Friday.

The contract settled Thursday at $1,322.30 an ounce, marking the highest finish for a most-active contract since April 27. Futures saw a roughly 0.5% rise for the week, which marked the first weekly climb in about a month.

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